Healthy Financial Habits to Get Into This Spring
Spring signifies a fresh start. While many are focused on spring-cleaning their homes or starting new fitness regimens, it’s easy to overlook finances. Evaluating your financial health allows you to identify where you overspend and correct bad habits. Here are a few financial spring-cleaning tips to get you on the right track.
Check Your Credit Report
Checking your credit report is a great place to start when trying to evaluate your finances. Apps like Credit Karma and Credit Sesame allow you to check your credit score for free, and offer guidance on how to improve it. This allows you to see exactly where you’re at financially and determine the appropriate steps to take to get where you want to be.
Revisit Your Budget
Too often, people make budgets and then don’t stick to them. This can lead to overspending, late payments, poor credit, and more. Thankfully, there are many apps and online tools available to help keep your spending on track. Clark County Credit Union also offers a wide variety of financial resources and programs with Banzai to help you budget, save money and invest in the future.
Even if you’re good at sticking to your budget, certain financial changes may occur that require you to amend it, such as taking on more debt, increased or decreased income, paid-off loans, etc. There are many factors that can affect your budget, which is why it is best to review it monthly.
Start Saving for Retirement
If you’re a young adult, saving for retirement may not seem like a big deal. However, the earlier you start saving, the earlier you can retire, and the better quality of life you provide for yourself in the future. If you want to begin saving, start by asking your employer if they offer a 401(k) plan. It is common for those without an employer-offered 401(k) plan to choose a Roth IRA, but a financial advisor will be able to provide information on all of your options and recommend the best one for your needs.
Paperless statements allow you to receive alerts about upcoming payments, transaction confirmations, bank account balances, and more via email or even text message. This makes it easy to manage your finances without having to sift through piles of paperwork. Eliminating paper statements frees up space in your home (and mailbox) while also helping preserve the environment.
Open a Savings Account
If you’re ready to start getting your finances back on track, contact Clark County Credit Union. Call 702-228-2228 to discuss your financial needs with one of our advisors or open a savings account today!